Wildcat Resources (ASX:WC8) has signed a binding agreement to obtain a key tenement at the Tabba Tabba Project in Western Australia, through a tenement swap with privately held Northern Star Pilbara.
Northern Star will acquire several non-core exploration licences from Wildcat, while the latter will acquire exploration licence E45/2364.
The transaction will be concluded without any direct cash payment or equity issue, which allows Wildcat to maintain its capital structure and funds on hand.
Wildcat Managing Director AJ Saveritmutto says the ownership of this additional tenure represents a “valuable” gain for the project, with the potential to drive notable operating and capital cost efficiencies.
The company, which has a market capitalisation of $294.81 million, has begun a Definitive Feasibility Study (DFS) for the Tabba Tabba Project, after a Preliminary Feasibility Study confirmed potential for a long-life lithium mine with robust economics.
The company will integrate the tenure changes into its DFS, which is on track for delivery in 2026.
The Tabba Tabba Project is a lithium and tantalum development asset located 80km by road from Port Hedland in Western Australia.
Wildcat Resources is an Australian explorer and developer focused primarily on lithium and gold in Western Australia and New South Wales.
Write to Aaliyah Rogan at Mining.com.au
Images: Wildcat Resources
